Edmond DE Rothschild Holding S.A. Sells 24,719 Shares of Wells Fargo & Company $WFC

Key Points

• Edmond DE Rothschild Holding S.A. reduced its stake in Wells Fargo by 9.7%, selling 24,719 shares and holding 229,660 shares worth approximately $16.5 million.
• Wells Fargo reported a quarterly EPS of $1.54, exceeding analysts' expectations of $1.41, with quarterly revenue slightly down at $20.82 billion.
• The company announced an increase in its quarterly dividend to $0.45 per share, reflecting a yield of 2.2% and a payout ratio of 30.82%.

Edmond DE Rothschild Holding S.A. lowered its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 9.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 229,660 shares of the financial services provider's stock after selling 24,719 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Wells Fargo & Company were worth $16,487,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Accent Capital Management LLC purchased a new stake in Wells Fargo & Company during the 1st quarter valued at about $29,000. Motco raised its position in Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after acquiring an additional 326 shares during the period. Stone House Investment Management LLC bought a new position in shares of Wells Fargo & Company during the 1st quarter valued at approximately $34,000. Dunhill Financial LLC lifted its position in shares of Wells Fargo & Company by 63.7% in the fourth quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 193 shares in the last quarter. Finally, Orion Capital Management LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at $35,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 1.6%

Shares of NYSE:WFC opened at $80.51 on Thursday. Wells Fargo & Company has a 1 year low of $50.22 and a 1 year high of $84.83. The company has a market capitalization of $257.89 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.28 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The business's 50 day simple moving average is $80.51 and its 200 day simple moving average is $75.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same period in the prior year, the firm posted $1.33 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.2%. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio (DPR) is currently 30.82%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WFC. Dbs Bank raised Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Truist Financial lifted their target price on Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Bank of America raised their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Citigroup reiterated a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of "Moderate Buy" and a consensus price target of $82.56.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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